Penserra Continues Expansion of Transition Management

NEW YORK, Sept. 3, 2014 /PRNewswire/ -- Penserra Capital Management LLC, a U.S. based institutional advisory firm specializing in beta management solutions, today announced that it has added more senior investment professionals to its transition management team.  

Calvin Lee, until recently a Portfolio Manager at BNY Mellon Beta & Transition Management and a former Transition Manager at BlackRock, comes to Penserra with over 15 years of investment and transition management experience.  Lee comments, "Unlike other firms, Penserra was specifically created to have transition management as a core strategic service offering.  We share the same vision, and look forward to contributing to this effort."  

Sam Patel, until recently a Transition Manager with BNY Mellon Beta & Transition Management and a former Transition Manager at Barclays Global Investors, joins Penserra with nearly 20 years of risk management, transition management and custody experience.   Patel adds, "I have been impressed with how the Penserra story has been favorably received by many of the country's largest and most sophisticated pension plans and industry consultants.   Given the team that has been assembled, we believe Penserra is well positioned to be a significant and long-term player in the marketplace."

In March, BNY Mellon became the latest firm to cease offering transition management services.  Last year, JP Morgan, Convergex, and Credit Suisse, also closed their transition management units.  The speculation has been that these firms exited transition management services because of contracting margins and regulatory changes. 

"Both Calvin and Sam bring a long track record of creating thoughtful trade strategies and successfully managed transition events across a broad range of institutional clients," said George Madrigal, CEO of Penserra Capital Management, who was also previously the head of transition management at Barclays Global Investors. Madrigal adds, "Over the past two years Penserra has been quietly accumulating an all-star team of experienced transition management professionals coming from firms like Barclays Global Investors/BlackRock, Knight, BNY Mellon, and Russell Investments.  With this diverse pool of knowledge under one roof we have found ways to improve upon traditional financial modeling techniques and investment processes, which ultimately result in an enhanced overall outcome for our clients."

"The number of transition events each year has remained relatively stable yet there are fewer firms that now offer transition management services," added Steve Lowden, Head of Sales and Marketing. "Customers will always need firms with a deep domain expertise, like Penserra, to provide this specialized service and to continue developing innovative solutions."

About Penserra
Penserra Capital Management provides advisory and fiduciary services to institutional investors.  Its core services include transition management, ETF sub-advising, and custom portfolio solutions.  Penserra Securities, an affiliate broker-dealer, provides global equity and fixed income execution services, equity research, transaction cost analysis, and investment banking.   Founded in early 2007, Penserra has leveraged technology, data, and intellectual capital to provide precise and innovative services to some of the largest and most sophisticated institutions around the world.  For more information about Penserra and its services please visit www.penserra.com.

Contact:
George Madrigal
Penserra 
925.594.5001

SOURCE Penserra Capital Management LLC